Overseas Trading: Apple Suppliers Weigh on Asia

Apple's disappointing earnings have the tech titan's suppliers tumbling

Apr 27, 2016 at 8:39 AM
facebook twitter linkedin

Asian stocks edged lower, as Apple Inc. (NASDAQ:AAPL) suppliers slumped in the wake of the tech titan's disappointing earnings report. Additionally, traders took a cautious stance ahead of policy decisions from the U.S. Federal Reserve and the Bank of Japan (BoJ) -- due today and tomorrow, respectively. By the close, China's Shanghai Composite was off 0.4%, even after a report showed industrial profits rose the most since July 2014 in March. Elsewhere, a strengthening yen dragged Japan's Nikkei down 0.4%, while Hong Kong's Hang Seng and South Korea's Kospi each gave back 0.2%.

European markets are modestly higher at midday, as stocks react to the latest batch of quarterly earnings reports and rising crude oil futures. Traders are also keeping a close eye on Greece, after eurozone finance ministers postponed a meeting to give them more time to discuss the country's required bailout reforms. At last check, the German DAX is up 0.5%, the French CAC 40 is 0.4% higher, and London's FTSE 100 is flirting with a 0.2% lead, after a preliminary first-quarter gross domestic product (GDP) reading arrived in line with estimates.

Overseas Stocks April 27

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox.


Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!